MUNICH, 14TH OF FEBRUARY 2013

PAYMILL receives additional funding from US-based Blumberg Capital

PAYMILL receives additional funding from US-based Blumberg Capital

MUNICH, 14TH OF FEBRUARY 2013

PAYMILL, the innovative payment service provider, secured an additional funding of Blumberg Capital, bringing the total capital raised between Blumberg, Sunstone and Holzbrinck well over 10M Euros. PAYMILL facilitates an easy implementation of online credit card payment and other payment procedures in their customers’ online shop platforms, by operating already in 34 countries.

Mark Henkel, CEO of PAYMILL: “The strong investment support from Holtzbrinck Ventures, Sunstone Capital emphasized our strong position as a technology leader in the European online payment market. With the latest investment of Blumberg Capital we want to make another step forward and continue our mission in optimizing our technical platform and our customer service. It’s our goal that everyone globally can accept online payments fast and easily.”

PAYMILL is the very first provider who launched this easy and user-friendly technical solution in Europe. With the investment of Blumberg, PAYMILL brings on a partner with global reach, and expertise in financial services, strengthening its position for further rapid growth and development of user-friendly features.

At the same time, the online service provider is actively touring big cities all over Europe. In March, they will be hitting Amsterdam, Barcelona, Berlin, Budapest, and London. “Focusing on the pan-European market is one of our key assets,” said Mark Henkel, “but at the same time, we also concentrate on an intense dialogue with our customers to constantly improve our product.”

The very simple API, the fast onboarding process and the transparent price, in combination with comprehensive customer support set PAYMILL apart from other popular payment providers. “This is an exceptional team going aggressively after an underserved market globally, and we are excited to be part of the team,” said Jon Soberg, Managing Director at Blumberg Capital. Integration of the service is substantially facilitated for merchants by simple copying and pasting of a few lines of code into the source code of their websites. The service includes providing of payment methods and secure payment processing in the background.

About Blumberg Capital
Blumberg Capital (www.blumbergcapital.com) is an early-stage venture capital firm focused on investing in innovative and disruptive companies that are changing the service economy. Blumberg Capital has approximately $250 million USD under management. Blumberg has special expertise in financial services and has made several investments in the space, including Credorax, Addepar, Lenddo, and Kreditech

About PAYMILL
PAYMILL GmbH was founded in Munich, Germany, in June 2012 by Mark Fabian Henkel. The management team is complemented by Dr. Stefan Sambol, Jörg Sutara and Kilian Thalhammer. The company currently employs 25 staff, mostly with a technical background. PAYMILL is active in 34 countries across Europe and other regions. For more information got to www.paymill.com